Skyline Retail REIT Sells Property in Winnipeg, MB - Skyline Wealth

Skyline Retail REIT Sells Property in Winnipeg, MB

[Guelph, ON – August 19, 2020] 

On August 19, 2020, Skyline Retail REIT, a privately-owned and managed portfolio of retail properties across Canada, announced the sale of a property located at 777 Sherbrook Street in Winnipeg, MB.

The property comprises 16,839 square feet of retail space and is tenanted by Shoppers Drug Mart. The total sale price for the property was $6.28M.

Property Address Tenants Total Sq. Ft. Sale Price
777 Sherbrook Street Shoppers Drug Mart 16,839 $6.28M

777 Sherbrook Street, Winnipeg, MB was identified in Spring 2019 as a non-core asset that was appropriate for a strategic disposition, and was sold at a premium to the property’s purchase price, as well as its International Financial Reporting Standards (IFRS) value established in January 2020. Funds surfaced from the property’s sale will be used toward accretive property acquisitions

Post-disposition, Skyline Retail REIT comprises 109 properties in 66 communities in five provinces across Canada, with a total of 4,524,937 square feet of retail space.

Press releases are disseminated by Skyline Wealth Management Inc. (“Skyline Wealth”) on behalf of the Issuer as at the date of publication. Skyline Wealth does not undertake to advise the reader of any changes. Skyline Wealth has not taken any steps to verify accuracy. Commissions, trailing commissions, management fees and expenses all may be associated with investments in exempt market products. Please read the confidential offering documents before investing. Some of the investment products offered by Skyline Wealth are from related issuers. A full list of issuers related to Skyline Wealth and details of the relationship between them is available upon request.